Urbis, on behalf of developer client Billbergia, undertook a detailed and complex feasibility analysis of the State Government’s proposed Rhodes East Precinct to determine a more efficient and equitable regime of proposed developer levies and land credits.
The work entailed “reverse engineering” our usual feasibility models to identify the Floor Space Ratio needed to meet the estimated super profit expectations of numerous private landholders within the Precinct. Along side this, Urbis was required to, and also provide the usual reward for risk requirements of the developer.
Billbergia, who controlled numerous purchase options in the Precinct, submitted our work as a response to the public exhibition of the State Government’s own master plan and contribution framework.
Key insights outlined that single developer master planning provided certainty of public benefit and ensured better urban renewal solutions.
“Urbis, through its multidisciplinary approach, was able to recognise and find solutions for the competing interests of both developers and consent authorities.